We are purchasing a flat in Bradford. It might be a silly question but how we can trust a lawyer? On the day of competition we have to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The mortgage over my property is with TSB for my property in Bradford. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?
You must advise TSB before renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. You need not do this via a TSB conveyancing panel lawyer.
The formalities of my purchase has taken place for my property in Bradford. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when purchasing a property in Bradford?
Unless a prior purchase of the premises took place post 12 October 2013 you could take it that conveyancing practitioners carrying out conveyancing in Bradford to remain recommending a chancel search and or insurance against a claim.
How does conveyancing in Bradford differ for newly converted properties?
Most buyers of new build or newly converted property in Bradford come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Bradford usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bradford or who has acted in the same development.
I am looking for a flat up to £235,500 and identified one round the corner in Bradford I like with open areas and station nearby, however it's only got 51 years on the lease. There is not much else in Bradford in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I am in need of some leasehold conveyancing in Bradford. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Bradford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a leasehold flat in Bradford, conveyancing formalities finalised 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Bradford with a long lease are worth £202,000. The ground rent is £60 yearly. The lease runs out on 21st October 2083
With only 57 years remaining on your lease we estimate the price of your lease extension to range between £28,500 and £33,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
Are Bradford conveyancing solicitors duty bound by the Law Society to issue transparent conveyancing costs?
Contained within the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Bradford or across England and Wales.